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Mexico Maintains Higher Duties on Certain Iron and Steel Products

The Mexican government has made a number of changes to its most-favoured nation import duties on iron and steel products of HS Chapters 72 and 73. Specifically, the increase from zero to 15 percent in the MFN duty rate that had previously been adopted for a number of tariff lines will remain in place for several years while certain other items will continue to benefit from duty-free treatment.

In addition, the duties for a range of iron and steel products will be lowered from 15 percent to 10 percent effective 22 September 2021, and that duty will then fall to five percent on 22 September 2023 and zero on 22 August 2024. For certain other items, the 15 percent duty will be reduced to 10 percent on 22 September 2021 and five or seven percent on 22 September 2023. Additionally, Mexico has made certain changes to its explanatory notes for HS Chapter 72.

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